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Jim McKelvey
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The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time Kindle Edition

by Jim McKelvey (Author) Format: Kindle Edition
4.6 out of 5 stars 627 ratings
From the cofounder of Square, an inspiring and entertaining account of what it means to be a true entrepreneur and what it takes to build a resilient, world-changing company

In 2009, a St. Louis glassblowing artist and recovering computer scientist named Jim McKelvey lost a sale because he couldn't accept American Express cards. Frustrated by the high costs and difficulty of accepting credit card payments, McKelvey joined his friend Jack Dorsey (the cofounder of Twitter) to launch Square, a startup that would enable small merchants to accept credit card payments on their mobile phones. With no expertise or experience in the world of payments, they approached the problem of credit cards with a new perspective, questioning the industry's assumptions, experimenting and innovating their way through early challenges, and achieving widespread adoption from merchants small and large.

But just as Square was taking off, Amazon launched a similar product, marketed it aggressively, and undercut Square on price. For most ordinary startups, this would have spelled the end. Instead, less than a year later, Amazon was in retreat and soon discontinued its service. How did Square beat the most dangerous company on the planet? Was it just luck? These questions motivated McKelvey to study what Square had done differently from all the other companies Amazon had killed. He eventually found the key: a strategy he calls the Innovation Stack.

McKelvey's fascinating and humorous stories of Square's early days are blended with historical examples of other world-changing companies built on the Innovation Stack to reveal a pattern of ground-breaking, competition-proof entrepreneurship that is rare but repeatable.

The Innovation Stack is a thrilling business narrative that's much bigger than the story of Square. It is an irreverent first-person look inside the world of entrepreneurship, and a call to action for all of us to find the entrepreneur within ourselves and identify and fix unsolved problems--one crazy idea at a time.
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  1. Print length
    285 pages
  2. Language
    English
  3. Publisher
    Portfolio
  4. Accessibility
    Learn more
  5. Publication date
    March 10, 2020
  6. File size
    8.6 MB
  7. Page Flip
    Enabled
  8. Word Wise
    Enabled
  9. Enhanced typesetting
    Enabled
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Editorial Reviews

Review

“McKelvey tells the remarkable story of how with Square, he started a business that would transform an industry, along the way unlocking a whole new model for innovation. An inspiring call to action for entrepreneurs who want to tackle problems that affect our everyday lives, with perseverance and some crazy ideas.” —Steve Case, chairman and CEO of Revolution, cofounder of AOL, and author of The Third Wave: An Entrepreneur's Vision of the Future
 
“The Innovation Stack is a deeply useful book about the characteristics of successful companies and how and why to build one, complete with inspiring case studies that literally span centuries. But it’s also much more than that: a witty, humane exploration of living in the complicated, inequitable world we all share and are working to make it less so.” —Eric Ries, entrepreneur and bestselling author of The Lean Startup
 
“Who can say they went up against Amazon—and won? Jim McKelvey can, and this book tells how.” —Peter Thiel, entrepreneur, investor, and author of Zero to One
 
“Growing up in the Show Me State—aka Missouri—made me skeptical of everything . . . especially Jim McKelvey. I’d say more but I’m out of charact” —Jack Dorsey, cofounder and CEO of Twitter and Square

About the Author

James McKelvey is a serial entrepreneur, inventor, philanthropist and artist.
He is the cofounder of Square, was chairman of its board until 2010, and still serves on the Board of Directors. In 2011, his iconic card reader design was displayed at the Museum of Modern Art.
In 2016, McKelvey founded Invisibly, an ambitious project to rewire the economics of online content.
In 2017, he was appointed as an Independent Director of the St. Louis Federal Reserve.

Product details

  • ASIN ‏ : ‎ B07SZQN3P6
  • Publisher ‏ : ‎ Portfolio
  • Accessibility ‏ : ‎ Learn more
  • Publication date ‏ : ‎ March 10, 2020
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 8.6 MB
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Enabled
  • Word Wise ‏ : ‎ Enabled
  • Print length ‏ : ‎ 285 pages
  • ISBN-13 ‏ : ‎ 978-0593086742
  • Page Flip ‏ : ‎ Enabled
  • Customer Reviews:
    4.6 out of 5 stars 627 ratings

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Customer reviews

4.6 out of 5 stars
627 global ratings

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Customers say

Customers find this book insightful, particularly for aspiring entrepreneurs, and appreciate its well-written content. Moreover, the book is entertaining with lots of laughs, and one customer notes it doesn't read like an average business book. Additionally, they find it engaging, with one review mentioning how it broadens the mind to explore more.

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InsightReadabilityWriting styleHumorEnthralling
24 customers mention "Insight"24 positive0 negative

Customers find the book insightful, describing it as an exciting mix of startup insights and a tale of adventure, making it a great read for aspiring entrepreneurs.

"...Filled with anecdotes, references and some unforgettable characters like Herb Kelleher and A.P Giannini, The Innovation Stack builds upon itself..." Read more

"...And the venture I started and still run, X Genesis, helps entrepreneurs discover problems that can be turned into opportunities...." Read more

"I found this book entertaining and illuminating. He author has an interesting background and confounded Square: the stories behind Square are..." Read more

"...His tone is extremely informational, personable, honest, funny, and insightful, which brings readers into the places and situations being discussed..." Read more

22 customers mention "Readability"22 positive0 negative

Customers find the book highly readable and entertaining, with one customer noting that it doesn't follow the typical business book format.

"...he is working to solve important problems, I knew it would be a terrific read. It exceeded my expectations...." Read more

"I found this book entertaining and illuminating...." Read more

"This is an incredible book! So insightful, but a very light, fun, quick read...." Read more

"...While Square is used, it covers so much more. This is one of the best books I've read in a while in any genre." Read more

17 customers mention "Writing style"17 positive0 negative

Customers appreciate the writing style of the book, describing it as well written and insightful.

"...It exceeded my expectations. Jim’s writing style is fluid and he wraps enough humor throughout the book that it makes you feel like you..." Read more

"...He does an exceptional job clarifying what new entrepreneurs are scared of...." Read more

"...His tone is extremely informational, personable, honest, funny, and insightful, which brings readers into the places and situations being discussed..." Read more

"This is an incredible book! So insightful, but a very light, fun, quick read...." Read more

9 customers mention "Humor"9 positive0 negative

Customers enjoy the book's humor, finding it lots of laughs and entertaining.

"...Jim’s writing style is fluid and he wraps enough humor throughout the book that it makes you feel like you are visiting with an old friend...." Read more

"...moments. And Jim is hilarious, laugh-out-loud funny...." Read more

"...His tone is extremely informational, personable, honest, funny, and insightful, which brings readers into the places and situations being discussed..." Read more

"This is an incredible book! So insightful, but a very light, fun, quick read...." Read more

5 customers mention "Enthralling"5 positive0 negative

Customers find the book engaging and inspiring, with one customer noting how it broadens the mind to explore more.

"...The Innovation Stack" starts with an engaging inside viewpoint of the story of Square. But it does much more...." Read more

"You will be glued to this exciting and inspiring story of adventure in how Jim recounts Square going to the face of the beast(Amazon) and winning...." Read more

"This book doesn't read like the average business book - it's funny and engaging...." Read more

"...Ahh, bonus: a great definition of entrepreneurship and enterpeneural!" Read more

Awesome information and really enjoyable read
5 out of 5 stars
Awesome information and really enjoyable read
I've really enjoyed this book. I think the approach to the book itself is a bit innovative (or at the minimum creatively different.) This isn't just a book about Square. It's a funny and engaging read. Jim writes with the same creativity he brings to this product design and glass art. There's an exciting mix of startup insights and creative writing here that should be enjoyed by anyone building a business.
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Top reviews from the United States

  • Timothy E. Durbin
    5.0 out of 5 stars Well written, insightful and highly recommended
    Reviewed in the United States on July 22, 2020
    Format: HardcoverVerified Purchase
    I ordered this book as soon as I heard Jim had written it. Being familiar with him, the Square story, and how hard he is working to solve important problems, I knew it would be a terrific read.

    It exceeded my expectations.

    Jim’s writing style is fluid and he wraps enough humor throughout the book that it makes you feel like you are visiting with an old friend. The story telling is top-notch, engaging you in the journey of bringing Square from a concept to a proven industry innovator and leader.

    Filled with anecdotes, references and some unforgettable characters like Herb Kelleher and A.P Giannini, The Innovation Stack builds upon itself much like how Jim challenges you to construct your business idea to solve problems.

    The world needs innovation and entrepreneurs now more than ever. Reading this book truly inspired me. I keep it at my desk to reference often to share quotes and be reminded of Jim’s perspective.

    I even shared this with my father, who is not a businessman or a tech guy. He loved it and couldn’t put it down.
    Highly recommended and I feel smarter having read it. Well done, Jim.
    One person found this helpful
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  • Tom Higley
    5.0 out of 5 stars You're an entrepreneur? Buy this now. I couldn't wait to finish to write a review. It's too good!
    Reviewed in the United States on March 14, 2020
    Format: KindleVerified Purchase
    If you're an entrepreneur, get this book now and read it. I’ve started nine ventures. And the venture I started and still run, X Genesis, helps entrepreneurs discover problems that can be turned into opportunities. I want everyone who goes through our 10.10.10 programs or uses our process and tools to read this book.

    Few entrepreneurs know how to write. Jim McKelvy is the exception. Jim’s writing is like the opening of a James Bond film. It crackles with twists and turns, near-death experiences, and “uh-oh, how’s he gonna get out of that?” moments. And Jim is hilarious, laugh-out-loud funny. When he talks about the difference between a business person (a successful person who only knows how to do what has already been done) and an entrepreneur (a wild spirit, a crazy person, a person looking for the perfect problem), he shows you the difference.

    While the real story here is about the Innovation Stack, Jim uses the early days of Square, the company he and Jack Dorsey founded, to illustrate the concept. So be clear, this isn’t just the story of Square. It’s about something much bigger. It’s about two things: (1) "squaring up" – creating something that has never before existed that brings fairness to a previously unfair system; and (2) the Innovation Stack, "one of the most powerful assets a company can possess" which is what makes “squaring up” a possibility.

    If you're looking for a way to make a lot of money by doing what other people have done, don't bother with this book. If you're looking for the perfect problem to solve, or to put an even finer point on it if you're looking to tackle the perfect problem for you, read this book. You will not be disappointed.
    17 people found this helpful
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  • Daniel Vaughan
    4.0 out of 5 stars insights into the process of building a startup
    Reviewed in the United States on November 8, 2021
    Format: KindleVerified Purchase
    I found this book entertaining and illuminating. He author has an interesting background and confounded Square: the stories behind Square are interesting by themselves, but he also describes his innovation stack mindset, that I found novel.

    I recommend this book to hose interested in the payments/fintech space but also for those interested in following the entrepreneur path
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  • Ryan O'Neil
    5.0 out of 5 stars Business Adventures Part 2
    Reviewed in the United States on June 10, 2020
    Format: HardcoverVerified Purchase
    As an entrepreneur, I find extreme value out of patterns. There's nothing new under the sun - only new combinations of pre-existing elements. "The Innovation Stack" starts with an engaging inside viewpoint of the story of Square. But it does much more. It looks at the principles behind their meteoric rise and then parallels it with several other historical companies to show that innovative companies are more than just a single feature. While it may be opaque in the moment, your innovation stack becomes more visible over time and this book helps to recognize and refine that. It forces you to rethink your stack from your product offerings to larger principles about the company and gives you actionable insight to do so.

    Jim McKelvey says stuff in a way that others have generally been nervous. He does an exceptional job clarifying what new entrepreneurs are scared of. Focus on the areas in that you're innovating in but then copy everything else. I've always loved the phrase "if you want to make apple pie from scratch, first you must create the universe" and this book exemplifies it.

    If you liked the classic Business Adventures by John Brooks, you'll love this.
    One person found this helpful
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  • Wyatt
    5.0 out of 5 stars Insightful tale of adventure and inspiration
    Reviewed in the United States on March 10, 2020
    Format: HardcoverVerified Purchase
    You will be glued to this exciting and inspiring story of adventure in how Jim recounts Square going to the face of the beast(Amazon) and winning. By weaving personal accounts with the pieces from Square’s story as well as their equivalents across history, there is no time at which you will be bored or disinterested. His tone is extremely informational, personable, honest, funny, and insightful, which brings readers into the places and situations being discussed in a special way that few authors are able to accomplish at all. I know Jim and had the pleasure of working for him, but I am sure that the words he imparts in The Innovation Stack will be just as interesting, informational, and moving for you as they were for me.
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  • Amazon Customer
    5.0 out of 5 stars One of the best business books I’ve ever read
    Reviewed in the United States on May 2, 2023
    Format: KindleVerified Purchase
    This is an incredible book! So insightful, but a very light, fun, quick read. My worldview as an innovator has forever been changed after understanding the concept of Innovation Stack.

    Thank you for taking the time to write this book. Other books that had an equally profound impact on me as an innovator: Blue Ocean, Lean Startup, Zero to One.
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Top reviews from other countries

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  • Dalehurley
    4.0 out of 5 stars Entertaining and worth the read
    Reviewed in Australia on January 2, 2022
    Format: KindleVerified Purchase
    This is a good book with a simple message, keep solving problems either by copying when there is an existing solution or innovation when there is no solution. It is the innovation that will give you the advantage. The more you innovate the harder it will be for competition to compete. Solve problems that is a perfect problem for you to solve.
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  • noesun
    5.0 out of 5 stars Must read for entrepreneurs trying to build the impossible
    Reviewed in France on February 22, 2023
    Format: KindleVerified Purchase
    Super enjoyable book that overflows with wisdom. Jim takes us through 4 case studies he uses to help us see the patterns of successfully “building outside the walls” (he puts what has already been done inside the walls). Invaluable to get him to look back and share what he now clearly sees in hindsight and how felt while he was doing it. Will help us all build resilience, and even be anti-fragile.
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  • Cece
    5.0 out of 5 stars A good read by itself but also a concise and straightforward account of innovation in 21st Century
    Reviewed in the United Kingdom on March 10, 2020
    Format: KindleVerified Purchase
    I did a case study on Square for a tech management course and was struck at how under the radar they are and how game changing they were without much fan fair. So I bought this mainly to fill in the gaps for what I couldn't find out at the time. But it really shines as a more useful introduction to innovation, as that was something I struggled a lot with on my course. It's funny how the author describes a college professor despairing at students in his entrepreneur class because I was definitely making a lot of the same mistakes. There's a short bio on how the company started and the it dives into really useful case studies in a very understandable manner. There's quite a shocking incident towards the end of the book when the author explains why and how he started a coding initiative called Launchcode.

    I appreciate the honest and down to earth tone of the book in contrast to the almost gossip magazine style of writing in tech journalism these days. It was a very interesting read. Definitely recommend.
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  • Dennis
    5.0 out of 5 stars A written masterpiece - a must have for all aspiring entrepreneurs!
    Reviewed in Germany on May 1, 2022
    Format: HardcoverVerified Purchase
    This book changed my view on entrepreneurship.
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  • Diceman
    5.0 out of 5 stars オーディブルがすごい
    Reviewed in Japan on September 16, 2020
    Format: KindleVerified Purchase
    本人のナレーションで、本当に気持ちがこもっている音声。英語も分かりやすいので、オススメです。
    Report

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